The South East England Development Agency (SEEDA) and ECO Island

SEEDA is the Government funded Agency responsible for the sustainable economic development and regeneration of the South East of England – the driving force of the UK’s economy. Our aim is to create a prosperous, dynamic and inspirational region by helping businesses compete more effectively, training a highly skilled workforce, supporting and enabling our communities while safeguarding our natural resources and cherishing our rich cultural heritage.

The Isle of Wight’s vision to become a thriving, dynamic and confident community, in balance with its local environment and contributing to one-planet living, is highly ambitious and hugely exciting.

The Island is recognising the value of its assets and characteristics and the potential they provide to set the Island apart. In doing this, it is leading the way for local communities to set a new benchmark for achieving;

• Economic prosperity
• Reduced carbon emissions and ecological footprint
• Community cohesion
• Raised aspirations

The South East England Development Agency (SEEDA) and the Island have been working together for the last eight years to develop the economy and support local communities. Eco Island brings our shared ambitions and objectives closer still.

Our vision for the region is that by 2016 the South East will be a world class region achieving sustainable prosperity. This means that all economic activity must achieve more with less. We will have to achieve economic growth and reduce our ecological footprint whilst ensuring economic well-being for all.

Our aim is to;

• Achieve an average annual increase in GVA per capita of at least 3 per cent
• Increase productivity per worker by an average 2.4 per cent annually, from £39,000 in 2005 to at least £50,000 in 2016
• Reduce the rate of increase in the region’s ecological footprint (from 6.3 global hectares per capita in 2003, currently increasing at 1.1 per cent per annum), stabilising it and reducing it by 2016

In simple terms, this means generating more wealth out of our economic activity, while reducing the amount of resources we use to do that.

The Isle of Wight has a valuable role to play in supporting the South East region’s drive for sustainable prosperity, including preserving quality of life to enhance the competitiveness of the South East and enhancing the environmental and social lifestyle offer to keep the region attractive as a place to live, work and do business

While facing a number of challenges, the Island is equally presented with some exciting opportunities. It has experienced strong economic growth in recent years. SEEDA wants to continue to support that growth by helping to create an environment in which businesses can thrive and that will attract new investment to the Island.

A strong, stable and diverse economy will provide the essential platform to achieve the Eco Island vision. What Eco Island offers is a framework for partners to work together at both a local and regional level focusing on;

• Climate change and energy
• Sustainable consumption and production
• Natural resources and the environment
• Sustainable communities
• Enterprise, innovation and creativity
• Employment and skills
• A sustainable built environment

Some of the things we are likely to work on with Island partners and businesses include;

• Supporting a leading-edge renewables sector (wave, tidal, wind, biomass). This is a high value sector that has driven much of the Island’s recent economic growth with huge potential to contribute to Eco Island.
• Increasing energy, water and materials efficiency in business. Business Link will work with businesses, including agricultural businesses to turn waste into economic opportunities
• Working with Natural England and the Environment Agency to achieve improvements in the quality, bio-diversity and accessibility of green and open space, to help preserve and enhance the Island’s natural assets and contribute to the Island communities’ overall well-being
• Encouraging enterprise and business start-up and particularly working with the businesses that are most important to the Island’s on-going economic prosperity and can contribute significantly to Eco Island
• Promote the Cowes Waterfront Initiative, and deliver the regeneration of East Cowes. This will provide a high quality gateway to the Island, and create a destination in its own right, attracting new investment and employment, improving the local environment and providing new homes and facilities.

As a partner, SEEDA will continue to focus on the Island’s economic priorities and encourage Eco Island to contribute to the region’s global competitiveness and sustainable prosperity.

Find out more

More information about SEEDA is available on their website, which can be found here. www.seeda.co.uk